to create easement to the sign? Will this create a new PID and tax statement?
When you sell the land, but keep an easement, you are not creating a new plat of the property. As such you will not receive a new parcel number or tax bill. However, this situation is very complex. The sign will still be taxed as personal property, but the tax assessor may be confused on how to create tax for the income stream the landowner receives. The general rule is that a billboard can be taxed as personal or real property – but not both. However, in our current era of broke cities and counties, more taxing authorities are trying to tax billboards twice, and you may want to explain the situation to the tax assessor in advance to make sure that everyone is on the same page.
Thank you for the reply but I don’t understand. If we create an easement on our land in our name which would have to include access to the sign and then proceed to sell the rest of the land it has to be two parcels with two different taxpayers? No? We are in Minnesota and to the best of my knowledge our property taxes are based in part on sign income. If there are other taxes they are paid by the sign company who rents from us…they own the sign. Does this change anything.?